19.11.2021 23:08:05

TSX Ends Lower For 3rd Straight Day

(RTTNews) - The Canadian stock market ended weak on Friday after languishing in negative territory right through the day's session.

Weak crude oil prices and worries about growth due to surging coronavirus cases and fresh lockdown measures in Europe weighed on sentiment.

The benchmark S&P/TSX Composite Index ended with a loss of 82.51 points or 0.38% at 21,555.03. The index touched a low of 21,527.56 and a high of 21,625.73 in the session. The index shed nearly 1% in the week.

Energy stocks were the major losers. Consumer staples and materials shares too closed mostly lower. A few stocks from real estate, utilities and information technology sectors posted notable gains.

Baytex Energy Corp (BTE.TO) declined nearly 6% on huge volumes. Cenovus Energy (CVE.TO), Crescent Point Energy (CPG.TO), Canadian Natural Resources (CNQ.TO), Whitecap Resources (WCP.TO) and Arc Resources also drifted down on strong volumes, and shed 3 to 4.7%.

Yamana Gold (YRI.TO), Manulife Financial Corporation (MFC.TO) and B2Gold Corp (BTO.TO) declined sharply.

TFI International Inc. (TFII.TO), Kinaxis Inc (KXS.TO), Thomson Reuters (TRI.TO), Shopify Inc (SHOP.TO) and Constellation Software (CSU.TO) gained 1 to 2.3%.

Data released by Statistics Canada showed retail sales in the country dropped by 0.6% in September over the previous month. Retail Sales increased 4.8% in September of 2021 over the same month in the previous year.

Retail Sales Ex Autos in Canada decreased to -0.2% in September from 2.8% in August of 2021.

Another data from Statistics Canada showed prices of new homes in Canada rose 0.9% over a month earlier in October, after rising by 0.4% in September. Year-on-year, the index rose 11.5% in October.

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